Arbutus Biopharma Corp
ABUS · Pharmaceutical Preparations · 197.5M shares · +25%/yr ↑ dilution · EDGAR filings ↗
Reference price $3.28 · est. market cap ~$649M — last insider sale, 2025-02-04 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Clinical/early-stage biotech — HBV clinical, heavy burn, very well-funded.
Strengths
- Liquidity — current ratio 15.7 (91st)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -237.9%)
- Cash burnNegative free cash flow (-39.6M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +25%/yr over 4y (dilution, book value/share -82%)
- Notable holderHeld by 4 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +1 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-271.0%
Net margin
-237.9%
Return on equity
-43.7%
Return on assets
-35.4%
ROIC
-39.4%
Revenue growth (QoQ)
128.2%
Debt / equity
0.0×
Current ratio
15.7×
Free cash flow
-$40M
Tangible book value
$77M
Cash & investments
$92M
Cash runway
9q
Stock comp / revenue
49.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-02-02 | Nguyen Tuan | Grant | 74K | — |
| 2026-02-02 | Androski Lindsay | Grant | 28K | — |
| 2025-02-14 | Naftzger J. Christopher | Grant | 54K | — |
| 2025-02-14 | McElhaugh Michael J. | Grant | 177K | — |
| 2025-02-14 | HASTINGS DAVID C | Grant | 90K | — |
| 2025-02-14 | Sims Karen | Grant | 49K | — |
| 2025-02-04 | HASTINGS DAVID C | Sell | 22K | $3.28 |
| 2025-02-04 | Sims Karen | Sell | 19K | $3.28 |
| 2025-02-04 | McElhaugh Michael J. | Sell | 24K | $3.28 |
| 2025-02-04 | Naftzger J. Christopher | Sell | 11K | $3.28 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-27 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-05-13 | ResultsExhibits | filing ↗ |
| 2026-04-15 | OtherExhibits | filing ↗ |
| 2026-03-23 | ResultsExhibits | filing ↗ |
| 2026-03-03 | Material agreementOtherExhibits | filing ↗ |
| 2026-02-20 | OtherExhibits | filing ↗ |
| 2026-02-06 | OtherExhibits | filing ↗ |
| 2026-01-16 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-27 | 2026-05-26 | 0001447028-26-000024 ↗ |
| 10-Q | 2026-05-13 | 2026-03-31 | 0001447028-26-000021 ↗ |
| 8-K | 2026-05-13 | 2026-05-13 | 0001171843-26-003346 ↗ |
| 8-K | 2026-04-15 | 2026-04-14 | 0001171843-26-002458 ↗ |
| 10-K | 2026-03-23 | 2025-12-31 | 0001447028-26-000017 ↗ |
| 8-K | 2026-03-23 | 2026-03-23 | 0001171843-26-001838 ↗ |
| 8-K | 2026-03-03 | 2026-03-03 | 0001171843-26-001299 ↗ |
| 8-K | 2026-02-20 | 2026-02-17 | 0001171843-26-000979 ↗ |
| 8-K | 2026-02-06 | 2026-02-02 | 0001171843-26-000676 ↗ |
| 8-K | 2026-01-16 | 2026-01-15 | 0001171843-26-000303 ↗ |
| 8-K | 2025-12-11 | 2025-12-11 | 0001171843-25-007879 ↗ |
| 8-K | 2025-11-13 | 2025-11-13 | 0001171843-25-007256 ↗ |